The Daily Compounder

American Coastal Insurance Update Call w/ Management

A brief note of our takeaways from the call

May 8 • The Daily Compounder

4

American Coastal Insurance Q1 2026

A note on a high-quality compounder that is simply too cheap

May 6 • The Daily Compounder

4

2

Tidewater Q1 2026 Earnings

A Note on the King of Offshore Support Vessels

May 5 • The Daily Compounder

7

The Earnings Update + A Note on World Oil

Builders First Source & LSB Industries Q126 Earnings + Where is the New US Oil Supply?

May 1 • The Daily Compounder

5

1

April 2026

The State of Housing & Builders First Source

Our thoughts on the current housing crisis and resulting investment themes

Apr 23 • The Daily Compounder

9

4

A Pulse Check on the K Shaped Economy: Bank Earnings

Q1 2026 Earnings Season is Underway, What Are Financials Telling Us?

Apr 15 • The Daily Compounder

7

Cracks in Credit

17 Year Long Bull Run in Credit is Coming to an End

Apr 1 • The Daily Compounder

9

March 2026

Contrarian Commodity Opportunities & Where Risk is Most Present Today

Turning over stones in an already hated commodity complex + Where we see the largest pockets of risk today

Mar 18 • The Daily Compounder

4

2

Navigator Gas FY 2025 Results

A Core Holding Trading at a $0.60/$1

Mar 17 • The Daily Compounder

5

Sable Offshore, The Defense Production Act & California's Energy Death Spiral

How Sable Offshore's Pipeline is Back in Play & How it is Desperately needed

Mar 12 • The Daily Compounder

7

February 2026

The Offshore Oligopoly: Weak Oil with Industry Strong Structure

Offshore break evens, long-cycle capital, and industry wide consolidation point to a strong decade ahead

Feb 26 • The Daily Compounder

3

Tidewater x Wilson Son's Ultratug Offshore Transaction

Tidewater Management Continues to Add Significant Value of Equity Owners

Feb 23 • The Daily Compounder

4